Wednesday 9 November 2016

Colombo Stock Exchange Market Review – 09th Nov 2016


Colombo bourse echoed the losses in regional markets amid the surprising outcome of the US presidential election. All Share index shed 21.51 index points or 0.33% to end the session at 6,417.55. High cap constituent, S&P SL20 index lost 26.13 index points or 0.72% to close at 3,588.45.

Premier blue-chips namely, Hatton National Bank (closed at LKR 228.80, -1.8%), John Keells Holdings (closed at LKR 150.00, -0.7%) and Commercial Bank (closed at LKR 147.40, -1.1%) impacted the index performance.

Daily market turnover was LKR 437mn. Several negotiated deals were recorded in Nation Lanka Finance (53.6mn shares at LKR 1.70), Ceylon Tobacco (0.05mn shares at LKR 850.80), Hatton National Bank (0.15mn shares at LKR 233.00) and Tokyo Cement non-voting (0.5mn shares at LKR 51.50). Aggregate value of crossings accounted for 44% of the turnover.

Accordingly, Nation Lanka Finance top the turnover list with LKR 91mn followed by John Keells Holdings (LKR 48mn),Hatton National Bank (LKR 41mn) and Ceylon Tobacco (LKR 39mn) respectively.



Market breadth was negative where out of 200 stocks traded, 92 slipped, 41 advanced while 67 stocks remained unchanged. High investor activity was witnessed in Access Engineering, Textured Jersey, Ceylon Grain Elevators and John Keells Holdings.

Foreign investors were buyers for the sixth straight session with a net foreign inflow of LKR 106mn. Foreign participation was 16%. Net foreign inflows were seen in Hatton National Bank (LKR 39mn), Ceylon Tobacco (LKR 39mn) and John Keells Holdings (LKR 29mn). Net foreign outflow was mainly seen in Tokyo Cement (LKR 4mn).

Meanwhile, at the weekly treasury bill auction, six month treasury rate increased by 9bps to 9.56% while one year yield advanced by 4bps to 10.14%. Three month treasury bill rate remained unchanged at 8.60%. CBSL received bids amounting to LKR 52.9bn and it was decided to accept LKR 10.4bn worth of Treasury bills.
Source: LSL

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